RJO FuturesCast

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S&P 500 in Flux

Posted 03/15/2019 9:05AM CT | Jeff Yasak

U.S. stock futures are trading slightly higher this morning, as investors are closely watching the progress in the ongoing U.S.-China trade talks and the latest Brexit developments.  The market focus is centered on global trade developments with improved sentiment based on a report that progress is being made by the world’s two largest economies.  A Chinese news agency reported that Chinese Vice Premier He spoke via phone with U.S. Treasury Secretary Mnuchin.  Tesla’s introduction of its new model Y provided some positive vibes which were quickly offset with news that the SEC filing charges against Volkswagen on emissions fraud.  Traders are also anticipating the release of economic data led by industrial production numbers and consumer sentiment data later this morning.

Support coming in today at 280400 and 279800, with resistance showing 282000 and 283100.

E-Mini S&P 500 Jun ’19 Daily Chart

E-Mini S&P 500 Jun '19 Daily Chart

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Jeff Yasak

Senior Market Strategist
Jeff studied finance at the University of Wisconsin-Madison and at Loyola University. He left the corporate world in 1995 to pursue his dream of working in the financial markets. Jeff's trading career began as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange. This is where he developed a great interest in the options market that led him to the retail futures business. Jeff spent a few years as a broker's assistant before managing clients of his own.
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